What Is An Alternate Currency Payment?

The currency code on the customer's account defines the currency in which the account's financial transactions are expressed. If the customer remits a payment in a different currency, this is referred to as an alternate currency payment. The system enables conversion of the tendered amount to the account's currency and captures the alternate currency and amount, as well as the exchange rate used in the conversion on the payment tender. The payment tender is linked to a tender control that references the alternate currency.